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Assembly Election Results LIVE 2019

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Oct 24, 2019

Microsoft's cloud business slows, casts shadow over results

(Reuters) - Microsoft's Azure cloud business showed slower quarterly growth even as the software maker topped estimates for profit and revenue, indicating that the company may be facing intense competition in its fastest-growing business. Revenue from Azure increased 59% in the quarter ended Sept. 30, but came in well below last year's 76% growth.

#Reuters
Oct 24, 2019

EBay forecasts fourth-quarter revenue below estimates

(Reuters) - EBay Inc on Wednesday forecast current-quarter revenue below estimates, as it faces intense competition from Amazon.com and Walmart Inc . The e-commerce company said it expects fourth-quarter revenue in the range of $2.77 billion (£2.15 billion) to $2.82 billion, while analysts on average were expecting $2.85 billion, according to IBES data from Refinitiv

#Reuters
Oct 24, 2019

WeWork's new chairman defends payouts to founder, says company will survive

By Sheila Dang and Carrie Monahan (Reuters) - WeWork's new Executive Chairman Marcelo Claure on Wednesday defended huge payouts to the office-sharing company's founder Adam Neumann and said there is now "zero risk of the company going bankrupt," according to an audio recording of a meeting he held with employees that was reviewed by Reuters. The meeting took place a day after WeWork's largest shareholder, SoftBank Group Corp , provided a $9.5 billion (£7.37 billion) lifeline and took over the company, including payments to Neumann to give up control. In response to a question from one WeWork employee, Claure said Neumann was like any shareholder of the company who deserved the right to sell his shares

#Reuters
Oct 24, 2019

As population grows, human diet must cut down on meat, sugar, salt - Nestlé exec

By Marcelo Teixeira SAO PAULO (Reuters) - Nestlé SA , one of the world's largest food processors, believes population growth will require human diets to adapt, reducing consumption of sugar, salt and meat products, an executive said on Wednesday. "We have 7.5 billion people and the population continues to grow, so there is a need to eat more vegetables, cereals, and less sugar, meat products," said Laurent Freixe, Executive Vice President and head of operations in the Americas. Limited natural resources on the planet and the growing public health problem of obesity are behind the changes Freixe sees as necessary

#Reuters
Oct 24, 2019

Exclusive: Mexico taps banks, oil major as it nears end of 2020 oil hedge - sources

By Devika Krishna Kumar and Stefanie Eschenbacher NEW YORK/MEXICO CITY (Reuters) - Mexico's finance ministry has completed a majority of its annual oil hedging program, working with at least four top investment banks and oil major Royal Dutch Shell , sources said, after challenges slowed the world's largest oil financial deal this year. JPMorgan Chase & Co , Citigroup Inc , Goldman Sachs Group Inc , BNP Paribas SA and Shell are among those the finance ministry tapped to execute the hedge, two sources familiar with the deal said this week.

#Reuters
Oct 24, 2019

As population grows, human diet must cut down on meat, sugar, salt - Nestlé executive

By Marcelo Teixeira SAO PAULO (Reuters) - Nestlé SA , one of the world's largest food processors, believes population growth will require human diets to adapt, reducing consumption of sugar, salt and meat products, an executive said on Wednesday. "We have 7.5 billion people and the population continues to grow, so there is a need to eat more vegetables, cereals, and less sugar, meat products," said Laurent Freixe, Executive Vice President and head of operations in the Americas.

#Reuters
Oct 24, 2019

Microsoft beats profit estimates but cloud growth slows

(Reuters) - Microsoft Corp beat analysts' quarterly profit estimates on Wednesday, but growth in its Azure cloud computing platform slowed from a year earlier. The software maker's net income rose to $10.68 billion (£8.29 billion), or $1.38 per share, in the quarter ended Sept.

#Reuters
Oct 24, 2019

Ford posts lower third-quarter profit, trims full-year profit outlook

DEARBORN, Mich. (Reuters) - Ford Motor Co on Wednesday posted a lower quarterly profit as it took charges for its global restructuring, and reduced its full-year operating profit forecast due to higher warranty and incentive costs, as well as lower-than-expected sales in China

#Reuters
Oct 24, 2019

Wall Street gains as investors shrug off downbeat earnings

By April Joyner NEW YORK (Reuters) - U.S. stocks edged higher on Wednesday as investors looked past lackluster quarterly reports from industrial bellwethers Boeing Co and Caterpillar Inc , though a lower-than-expected revenue outlook from Texas Instruments Inc sent chipmakers' shares lower. The Dow Jones Industrial Average rose 44.87 points, or 0.17%, to 26,832.97, the S&P 500 gained 8.52 points, or 0.28%, to 3,004.51 and the Nasdaq Composite added 15.50 points, or 0.19%, to 8,119.79.

#Reuters
Oct 24, 2019

Exclusive: U.S. FAA must restore 'public confidence' in plane certification - inspector general

WASHINGTON (Reuters) - The Federal Aviation Administration (FAA) must work to restore "public confidence" in aircraft certification efforts after two deadly Boeing 737 MAX crashes, the U.S.

#Reuters
Oct 24, 2019

Wall Street treads water as chip stocks, Nike fall

By April Joyner NEW YORK (Reuters) - The benchmark S&P 500 was little changed on Wednesday as lackluster quarterly reports from Texas Instruments Inc pushed down semiconductor stocks and the departure of Nike Inc's chief executive weighed on the company's shares. Texas Instruments shares tumbled 7.6% after the chipmaker projected fourth-quarter revenue below estimates, citing weakened demand in part from trade tensions.

#Reuters
Oct 24, 2019

Teva’s proposed opioid settlement could cost drugmaker pennies on the dollar

By Michael Erman and Nate Raymond NEW YORK/BOSTON (Reuters) - Teva Pharmaceutical Industries Ltd's proposed $23 billion (£17.85 billion) drug giveaway to settle thousands of U.S. opioid lawsuits will likely cost the company a fraction of that figure due to how it has valued those medicines, according to a Reuters review of pricing data and industry analysts.

#Reuters
Oct 24, 2019

Sterling edges up as EU considers Brexit request; stocks flat

By Caroline Valetkevitch NEW YORK (Reuters) - World stock indexes were flat to lower on Wednesday with a disappointing forecast from Texas Instruments dragging down chipmaker shares, while the British pound inched up as European Union leaders consider London's request for a Brexit delay. An index of semiconductor shares was down more than 2%. Apple shares rose after Morgan Stanley said the iPhone maker's soon-to-be-launched video streaming service could boost its services revenue.

#Reuters
Oct 24, 2019

WeWork plans to lay off 4,000 staff - FT

(Reuters) - Office-sharing startup WeWork is planning to cut as many as 4,000 jobs as a part of a turnaround plan put in place by top shareholder Japan's SoftBank Group after it took control of the company this week, Financial Times reported on Wednesday. The job cut will amount to just under a third of WeWork's global workforce, and about 1,000 of the cuts will hit employees such as janitorial staff, the report said https://www.ft.com/content/ffa49378-f5b4-11e9-a79c-bc9acae3b654, citing people with direct knowledge of the plans

#Reuters
Oct 24, 2019

Facebook's Zuckerberg grilled in U.S. Congress on digital currency, privacy, elections

By Pete Schroeder WASHINGTON (Reuters) - Facebook Inc CEO Mark Zuckerberg conceded on Wednesday that the company's planned digital currency Libra was a "risky project," but sought to reassure skeptical U.S.

#Reuters
Oct 24, 2019

Boeing sees 737 MAX U.S. approval before year-end, shares rise

By Ankit Ajmera and Eric M. Johnson (Reuters) - Boeing Co said on Wednesday it still expects U.S. regulatory approval for its grounded 737 MAX in the fourth quarter, sending its shares higher despite a slump in quarterly profit

#Reuters
Oct 24, 2019

India eases fuel retail rules, allows entry of non-oil firms

By Nidhi Verma NEW DELHI (Reuters) - India on Wednesday relaxed its rules for setting up fuel stations in the country after a gap of 17 years, opening to non-energy companies a sector long eyed by global oil majors. India, where fuel demand is expected to rise in coming years, has become a lucrative market after the government removed controls on retail pricing of gasoline and gasoil. However, regulations framed in 2002 had made it difficult for new players to obtain a retail licence, such as an investment commitment of 20 billion rupees ($282 million) in the country's oil and gas sector.

#Reuters
Oct 24, 2019

Google unveils computer with 'quantum supremacy', rivals say wait a qubit

By Douglas Busvine BERLIN (Reuters) - Alphabet Inc's Google said on Wednesday it achieved a breakthrough in computing research by using a quantum computer to solve in minutes a complex problem that would take today's most powerful supercomputer thousands of years to crack. Google researchers expect that quantum computers within a few years will fuel advancements in fields such as artificial intelligence, materials science and chemistry

#Reuters
Oct 24, 2019

Swiss engineer ABB's earnings offer some relief as U.S., China weaken

By John Revill ZURICH (Reuters) - ABB's profit fell by less than expected in the third quarter, lifting its shares on Wednesday, although the Swiss engineering company said conditions were weakening in the United States and China, its two biggest markets. Shares in ABB closed up 3.5% after it said its net profit dropped 15%, beating analyst forecasts as fewer than anticipated one-off charges materialised from selling its Power Grids and other elements of a business overhaul

#Reuters
Oct 24, 2019

Oil rises on surprise U.S. crude drawdown, prospect of OPEC action

By Collin Eaton HOUSTON (Reuters) - Oil rose nearly 2% on Wednesday after government data showed a surprise draw in U.S.

#Reuters